Customer Issues a NSF Check that Does Not Clear Even with all the payment options available today, paper checks are still a popular form of payment especially in the business world. So, what options are available to you to help recover the check if your customer’s NSF check does not clear? North Carolina law provides several options for creditors. Civil Penalties The person or corporation who knowingly issues a check …Read More

All too often business owners believe that by procuring a commercial general liability policy, or CGL policy, they will be protected from almost all mishaps and accidents on any projects. However, few business owners take the time to understand what exactly they are purchasing and when the CGL policy’s coverage will and will not apply. For example, what happens if you are welding on a project and the sparks ignite, …Read More

Deciding which business entity your new company should be is a daunting task. You will need to consider the tax implications, the state liability issues, and what ongoing responsibilities will have to be performed in order to keep the company in good standing. Fortunately, for most the choice ends up being relatively simple: form as a limited liability company or more commonly known as an LLC. Forming as an LLC …Read More

A growing number of businesses are using online banking and mobile banking is gaining in popularity. However, most business owners are not aware that, unlike consumer accounts, business bank accounts are afforded little to no legislatively mandated fraud liability protection. Although, some banks offer zero liability fraud protection for their business customers, that protection is not mandatory and may be subject to terms and conditions. Furthermore, business accounts are a …Read More

The North Carolina Court of Appeals recently issued a decision regarding piercing the corporate veil, which reiterated that under North Carolina’s “instrumentality rule” an owner of a corporation or limited liability company can be held liable for the debts of the company, even if he or she is found not to have engaged in any wrongdoing individually. In Estate of Hurst v. Moorehead I, LLC, et. al., the Court upheld …Read More